Ohio is celebrating its 212th birthday with special events at the Ohio Statehouse in Columbus.
Higher Gas Prices May Be Due To Better Economy
Drivers can expect to see rising gas prices at the pump with a holiday weekend right around the corner. There are several reasons why â€“ and perhaps even a silver lining.
The average cost for a gallon of self-serve unleaded gas in Ohio now hovers around $3.70, according to GasBuddy.comâ€”and analysts predict that amount will jump up soon.
Itâ€™s a common trend around this time of year as many families plan their summer vacation.
Ohio Universityâ€™s Scott Miller is the director of a consortium encompassing energy, economics and the environment. He says, among several other variables, these prices can be a sign of a stronger economy.
â€œWhen the economy is really rocking youâ€™re looking at a lot more transportation, a lot more vehicle miles driven, a lot more demand at the pump and therefore greater demand equals greater prices,” says Miller.
Of course the political climate in the Middle East also has a hand in gas prices.
Miller adds this is a time when producers are trying to meet the sweet spot where supply can equal the demand so prices donâ€™t go too high.